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CBS
Oct 11, 2012 5:00am PDT
income is more than $200,000 as a single filer, 250 as a joint filer, the new healthcare reform will levy or could levy an additional surtax of 3.8% on capital gains. let's do the math for ya. that means capital gains rate for the wealthiest could go up to nearly 24%. so here's what you want to do. look in your taxable account. maybe you're sitting on some gains. maybe you sell it this year, pay the absolute lowest rate we have seen in years, 15%, and not chance paying more in the future. look, even if congress does act and avoids the fiscal cliff, i think most economists and tax experts say capital gains rates are likely to rise in the next five years. this is a terrific way to lock in rates today. save money in the future. >> we're all about saving money. how about estate taxes? >> reporter: this is sort of an interesting place because, you know, a lot of people say that's just for rich people and so right now it is. each taxpayer is entitled to a federal tax credit that pretty much wipes out any tax due on estates above about $5 million. the tax rate if you do have $5 million is 3
Search Results 0 to 0 of about 1